Wall Street Zen Upgrades Applied Industrial Technologies (NYSE:AIT) to Buy

Applied Industrial Technologies (NYSE:AIT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research firms have also weighed in on AIT. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. KeyCorp increased their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Down 0.2%

AIT opened at $282.85 on Friday. The business has a 50 day moving average price of $273.98 and a 200 day moving average price of $263.71. Applied Industrial Technologies has a twelve month low of $199.96 and a twelve month high of $296.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. The firm has a market cap of $10.55 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $2.39 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Research analysts forecast that Applied Industrial Technologies will post 9.9 EPS for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the transaction, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,654 shares of company stock valued at $8,212,829 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently modified their holdings of AIT. Capital International Investors acquired a new stake in Applied Industrial Technologies in the 3rd quarter valued at $200,456,000. Corient Private Wealth LLC boosted its stake in shares of Applied Industrial Technologies by 22,451.0% in the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock valued at $150,319,000 after purchasing an additional 582,827 shares in the last quarter. Norges Bank acquired a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at $125,044,000. Qube Research & Technologies Ltd bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $81,722,000. Finally, M&T Bank Corp increased its position in shares of Applied Industrial Technologies by 33,181.4% during the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock worth $81,322,000 after purchasing an additional 299,960 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.